HUDCO Q3 Net Profit Jumps 42% YoY to ₹735 Crore, Declares ₹2.05 Dividend
Strong Q3 Performance
Housing & Urban Development Corporation Ltd (HUDCO) reported a net profit of ₹735 crore in the October-December quarter (Q3) of FY25, a 42% increase compared to the ₹519.23 crore net profit in the same quarter of the previous financial year. The Navratna company also recorded a strong revenue rise of nearly 37%, reaching ₹2,760 crore in Q3, up from ₹2,013 crore in the year-ago period.
Interim Dividend
HUDCO also announced an interim dividend of ₹2.05 per equity share for the current financial year 2025. The company has set January 30 as the record date for determining the eligibility of shareholders set to receive the dividend.
Increased Borrowing Plan
Notably, HUDCO has raised its borrowing plan for the current financial year from ₹40,000 crore to ₹55,000 crore, citing a "quantum jump in business" as the reason behind the decision.
Expenses and EPS
HUDCO's expenses saw a 39% year-over-year rise to ₹1,838 crore in Q3. Its earnings per share (EPS) stood at ₹3.67. As of December 2024, the President of India held the majority of the stake in the company at 75%.
Planned Exit from IBHL
HUDCO also announced its plan to exit from its associate company Ind Bank Housing Limited (IBHL). The company cited reasons for this decision in its exchange filing.
Stock Performance
HUDCO shares closed 0.62% lower at ₹228 on January 22. The shares have fallen approximately 30% in the past six months.
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